Answers |2

Hi. There is something called Pension Guarantee Fund, which may provide you with the same or reduced pension if your company plan is discontinued, or fails. The company must give you 60 days notice of the failure of the plan. Then the PGIF comes into existence. Most likely, if your plan fails you will get a reduced benefit.

I thought the pension was separate from the business. They closed it in 1996 and went to IRA's. So, if SHC goes under tomorrow, I will be covered by PGIF and get a reduced pension. Thank you for your response.